Tag Archives: economics

The parasitical ultra-rich often deny the role of others in the acquisition of their wealth ??? and even seek to punish them for it We could call it Romnesia: the ability of the very rich to forget the context in which they made their money. To forg… Continue reading →

The Bank of England’s money-printing programme, intended to revive economic growth, has delivered a massive boost to the wealth of the most prosperous 10 per cent of households in Britain while delivering relatively scant returns for the poorest, … Continue reading →

Unsecured debts have almost doubled, according to the Bank of England, raising concerns that households are borrowing to fund everyday spending The amount of unsecured credit taken on by consumers leapt to ?732m in May, driven by a sharp rise in b… Continue reading →

The chairman resigns to save the CEO. The CEO makes a public threat to drag the central bank into the mire. And the previous government. And the Treasury. Next morning, the CEO resigns and the chairman re-installs himself to “oversee transition”. … Continue reading →

Britain’s banks need a ???real change in culture??? following a series of scandals that have rocked the industry, Bank of England governor Sir Mervyn King said today. Sir Mervyn’s comments came as Britain’s biggest lenders were embroiled in fresh … Continue reading →

A sharp deterioration in the outlook for the global economy over the last six weeks provoked Bank of England governor Mervyn King to back an extra ?50bn of quantitative easing, MPs heard on Tuesday, adding to the gloom surrounding the UK’s prospec… Continue reading →

ONS figures showing borrowing of ?18bn in May ??? up from ?15bn in same month in 2011 ??? are blow for George Osborne Britain’s public finances sank deeper into the red last month as weaker tax receipts from the recession-hit economy depleted the … Continue reading →